Synopsis As Introduced Amends the Landlord and Tenant Act. Provides that if a landlord enters into a lease with a tenant after receiving notice that a foreclosure proceeding has been initiated against the property, and the tenant later is required to vacate the premises as a result of the foreclosure action, the tenant may recover all of the rent payable from the time the lease is entered into until the tenant vacates the premises.
Replaces everything after the enacting clause. Amends the Mortgage Foreclosure Article of the Code of Civil Procedure. Provides that, notwithstanding specified conditions, a default for failing to make a scheduled payment each month as required under any applicable note and mortgage shall constitute a basis for a new, separate, and distinct cause of action. Provides that no later than 14 days after receiving the Homeowner Notice of foreclosure, a homeowner must provide all existing and prospective tenants and other known lawful occupants of the property with a written notice that a foreclosure action has been commenced. Provides that the notice may be substantially in a specified form.